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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Interest and fees on loans $ 21,952 $ 22,259 $ 65,762 $ 65,999
Interest on securities - taxable 738 1,062 2,729 3,167
Interest on securities - tax-exempt 905 994 2,762 3,013
Interest on deposits in banks 26 33 55 246
Total interest income 23,621 24,348 71,308 72,425
Interest expense        
Interest on deposits 1,133 1,384 3,334 4,676
Interest on short-term borrowings 548 497 1,613 1,486
Interest on long-term debt 819 798 2,438 2,685
Total interest expense 2,500 2,679 7,385 8,847
Net interest income 21,121 21,669 63,923 63,578
(Recovery of) provision for loan losses (1,154) 381 755 1,757
Net interest income after (recovery of) provision for loan losses 22,275 21,288 63,168 61,821
Noninterest income        
Wealth management 653 790 2,147 2,231
Service charges on deposits 3,494 3,744 10,146 10,154
Other service charges and fees 2,024 1,974 6,088 5,987
Insurance commissions 1,592 1,650 5,383 5,336
Impairment losses on securities (4,635)   (4,646)  
Portion of loss recognized in other comprehensive income 0 0 0 0
Net impairment losses recognized in earnings (4,635)   (4,646)  
Net gain (loss) on sale of securities 25 (39) (53) 151
Net FDIC indemnification asset amortization (1,369) (1,768) (3,856) (5,179)
Net gain on divestitures 3,065   3,065  
Other operating income 1,046 723 2,554 3,367
Total noninterest income 5,895 7,074 20,828 22,047
Noninterest expense        
Salaries and employee benefits 9,828 9,971 30,501 29,357
Occupancy expense 1,249 1,443 4,139 4,404
Furniture and equipment expense 1,066 1,259 3,271 3,854
Amortization of intangibles 316 281 871 837
FDIC premiums and assessments 363 377 1,109 1,181
FHLB debt prepayment fees       1,702
Merger, acquisition, and divestiture expense 226   675 86
Other operating expense 5,509 5,688 15,527 15,667
Total noninterest expense 18,557 19,019 56,093 57,088
Income before income taxes 9,613 9,343 27,903 26,780
Income tax expense 3,230 3,084 9,181 8,388
Net income 6,383 6,259 18,722 18,392
Dividends on preferred stock       105
Net income available to common shareholders $ 6,383 $ 6,259 $ 18,722 $ 18,287
Earnings per common share        
Basic $ 0.37 $ 0.34 $ 1.07 $ 0.98
Diluted 0.37 0.34 1.07 0.97
Cash dividends per common share $ 0.16 $ 0.14 $ 0.44 $ 0.40
Weighted average shares outstanding        
Basic 17,031,074 18,470,348 17,433,406 18,644,679
Diluted 17,083,526 18,500,975 17,475,211 18,895,909